The size of the global market for combustion equipment, systems, and controls would surpass US$ 265.0 billion by 2032. The market was worth US$137.5 billion in 2022. From 2022 to 2032, it is projected to increase at a CAGR of 6.8%.
Modern pollution control techniques and high standards are being used to create combustion controls, equipment, and systems. This would help to create a healthy, natural atmosphere.
The industrial sector’s sustained growth and the world’s expanding demand for power would likewise increase sales. The increased construction of large electrical generating plants is to blame.
The combustion process requires a range of tools, mechanisms, and systems. A complex set of chemical reactions involving an oxidant and a reductant produce heat.
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The energy released during burning can be used in a variety of ways. A number of uses for combustion energy are possible. They include the creation of electricity and the powering of vehicles such as rockets and airplanes.
Gas turbine engines are one of the most important uses for composite materials, according to the National Energy Technology Laboratory (NETL). Both the manufacturing of industrial electricity and the production of aircraft require these.
Key Takeaways from Combustion Controls, Equipment, and Systems Market Study
- The global combustion controls, equipment, and systems market witnessed 4% CAGR from 2017 to 2021.
- Asia Pacific combustion controls, equipment, and systems market would expand at a CAGR of 1% through 2032.
- The USA combustion controls, equipment, and systems market is expected to be worth US$ 42.3 billion by 2032.
- The United Kingdom combustion controls, equipment, and systems market would expand at a CAGR of 2% from 2022 to 2032.
- By application, the aerospace and marine segment would lead the market by exhibiting 0% CAGR between 2022 to 2032.
“Sales would be supplemented by investments made with the goal of increasing power producing capacities. Demand would be boosted by growing opposition to nuclear power and mounting concerns over emissions of volatile organic compounds.” – Says a lead analyst.
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Competitive Landscape: Combustion Controls, Equipment, and Systems Market
Pricing, geographic reach, and introduction of new products are the manufacturing companies’ key competitive advantages. One example is the brand-new SUV concept that Renault recently unveiled that has a hydrogen-powered drivetrain. This SUV has an internal combustion engine that runs on hydrogen. It doesn’t use fossil fuels such as gasoline and diesel.
Several vendors in the global market have engaged in cutting-edge strategic joint ventures, acquisitions, and collaborations. They do this to gain a competitive edge in the global market.
For instance,
- In April 2020, Catalytic Products International installed a Regenerative Thermal Oxidizer (RTO) at Midwest USA. The oxidizer uses a ceramic media design to provide thermal efficiencies of up to 97%. The processed air is heated in RTOs by preheating it as it ascends via the first ceramic heat exchange medium. After leaving the heat exchanger, the preheated air enters a combustion chamber. It is further heated to the desired temperature. Oxidation of the VOCs is finished with an efficiency of more than 98%. The resulting hot, pure air stream is then directed downward. It is cooled in the second ceramic heat exchange media bed before being discharged into the environment.
Get More Exclusive Insights into Combustion Controls, Equipment, and Systems Market Study
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the combustion controls, equipment, and systems market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2022 to 2032.
The study reveals extensive growth in the combustion controls, equipment, and systems market in terms of product (components, systems, monitoring & control instruments), application (process industries, metallurgy, cement industry, refining & petrochemicals, energy & power, aerospace & marine), and region.
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Combustion Controls, Equipment, and Systems Market Outlook by Category
By Product:
- Components
- Systems
- Monitoring and Control Instruments
By Application:
- Process Industries
- Metallurgy
- Cement Industry
- Refining and Petrochemicals
- Energy and Power
- Aerospace and Marine
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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